Rate increases helped boost revenues at Lufthansa’s cargo and logistics business in the first quarter of the year.
First-quarter figures from the Frankfurt hubbed aviation group show that its logistics business segment saw revenues increase by 12.7 percent year on year to €641m in the first quarter.
This is ahead of a 4.6 percent increase in traffic recorded during the period to 2.1bn revenue cargo tonne kms (RCTK).
Lufthansa said the revenue improvement was largely driven by improved pricing.
Earnings before interest and tax improved by 97 percent compared with last year to €65m, which the airline said was down to the improved revenues.
Lufthansa’s Americas business registered the largest improvement in traffic as it noted a 6.1 percent increase, its Asia Pacific sector saw RCTKs increase by 5.3 percent, Europe was down 2.3 percent and the Middle East/Africa slid by 5.9 percent.
The company added that its cost-cutting programme was still being pursued while its digitalization projects were progressing.
Last year, the cargo business saw revenues increase by more than 21%.
Credit: Aviation News